Kapital Boost Makes One-Day International Payments With Wallex

Case Study

min read

About Kapital Boost

Kapital Boost bridges the gap between SMEs and investors/members. This peer-to-peer (P2P) platform offers investors from anywhere in the world the opportunity to invest in promising SMEs in Indonesia and Singapore.

Kapital Boost puts its primary focus on short-term, ethical investment opportunities. It only requires a minimum investment of SGD 200 for investors to get started. On the opposite end, it offers businesses and SMEs access to temporary liquidity and capital needs through a crowdfunding platform.

Founded in 2015, this Islamic-based enterprise operates from Singapore but serves members from other Southeast-Asian countries as well as other regions of the world.

The challenge

Although Kapital Boost is based in Singapore, a large chunk of its SME clients are in Indonesia. This required the company to make large amounts of capital transfers across borders.

In its early days, the firm gravitated towards traditional methods, such as banks and remittance companies. However, in an attempt to maximise efficiency, the lengthy and time-consuming payment process pushed the firm to search for an alternative payment solution that is faster and cheaper.

Not only that, a significant portion of Kapital Boost’s members are based in the Middle East, like Kuwait, the UAE, Bahrain, and Saudi Arabia. Ergo, it became pivotal to onboard an international payment solution, such as Wallex, that supports more than just a handful of currencies while ensuring the safety of funds.

The solution

As a FinTech company designed to provide customised B2B solutions, Wallex became the first choice for Kapital Boost for three reasons:

Speed

When it comes to serving and providing funds for SMEs, speed is a big factor. Speed affects the efficiency and productivity of the organisation, which in turn, has a huge impact on its profitability. In other words, the faster this process is, the better it is for both Kapital Boost and its clients.

With remittance companies and banks, it often requires days before transactions get settled. Wallex, however, gets it done within a few hours, streamlining Kapital Boost’s workflow and saving a tremendous amount of time.

This has greatly helped Kapital Boost maintain its customer satisfaction. Although this is a qualitative measure, it is a clear-cut advantage for the company.

Simplicity

Through Wallex, Kapital Boost can now manage payments from anywhere and at any time, leveraging the simplicity of the payment platform and turning it into an efficiency edge.

Besides that, Wallex also provides more advanced and customisable features like bulk approvals if there ever is a need to make multiple transactions at once or automate certain transactions. This will reduce the administrative burden without disrupting the payment schedule.

First-class support

Reliability is yet another aspect that Wallex places a heavy emphasis on. In this case, Jon, the account manager for Kapital Boost, is regularly in contact with the team and users to support their needs, especially when there are large crucial transactions. To add, if the account manager is not available immediately, there is a backup support system that will help with urgent requests.

This is particularly important for clients in fast-moving industries who may require immediate transactions. It also gives businesses such as Kapital Boost confidence, knowing that they can rely on Wallex in case of an emergency.

Make fast, reliable payments with Wallex

Beyond making international transactions, Wallex aims to provide financial solutions to businesses of all sizes. Switch to Wallex to make seamless transactions with up to 180+ countries and convert foreign currencies at favourable rates.

Find out more about Wallex and how it can help your business run more efficiently at https://www.wallex.asia/.